RADNOR, Pa., July 28, 2021 /PRNewswire/ -- Milestone Partners is pleased to announce that specialty insurance holding company, Insure Homes Holdings LLC (together with its affiliates, "Insure Homes") has completed its investment in StrucSure Home Warranty, LLC and affiliated reinsurance and insurance service entities ("StrucSure").
StrucSure offers insurance-backed new home structural warranties providing homeowners multi-year coverage for structural failures while transferring the home builder's legal obligation to repair structural issues. StrucSure is a leading provider of warranties in the fast-growing Texas market, while continuing to expand its presence nationally serving mid-market builders. Founded in Denver, Colorado 24 years ago, StrucSure has warrantied over 100,000 homes for its builder and general contractor partners on behalf of consumers nationwide.
Adam Curtin, Partner at Milestone, stated: "StrucSure is a market leader and the opportunity to leverage its brand and builder relationships within the Insure Homes enterprise is highly compelling, particularly in light of housing market trends."
Jerry Thompson, CEO and founder of StrucSure said: "We are looking forward to our partnership with Milestone and the Insure Homes team. Having served new-home builders and their customers for over two decades, the opportunity to better serve these clients through enhanced insurance offerings entrenches StrucSure as a key provider in the growing new home market."
"Partnering with StrucSure provides significant opportunity to expand our product offering through new and existing customers further establishing Insure Homes as a market leader in protecting the home, life's biggest investment," said Joe King, Co-CEO of Insure Homes.
Univest Bank and Trust Co. joined a senior credit facility led by Citizens Bank, N.A. to support Insure Homes in its acquisition. Waller Helms acted as exclusive financial advisor to StrucSure. Troutman Pepper Hamilton Sanders, LLP acted as legal advisor to Insure Homes and Milestone.
Insure Homes is a financial services investment of a partnership formed and managed by Milestone Partners. Within financial services, Milestone targets niche, high margin segments that have compelling supply / demand dynamics within insurance, specialty finance, financial technology and asset management. Transaction targets typically have revenues of $20-$500 million and EBITDA / pre-tax earnings of $10-$100 million.
Milestone Partners (www.milestonepartners.com) is a private equity firm that partners with management to invest in leveraged buyouts and recapitalizations of middle-market businesses. Based in suburban Philadelphia, Milestone Partners has closed a total of over 100 acquisitions, add-ons and sale transactions since 1995, while managing $947 million of committed equity capital.
SOURCE Milestone Partners
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